Greenland Mines Set to Close Sarfartoq Rare Earths Acquisition by Sept. 1, 2026

CHARLOTTE, N.C., Aug. 27, 2026 (GLOBE NEWSWIRE) -- via IBN – Greenland Mines Ltd (“Greenland Mines” or the “Company”) (Nasdaq: GRML) today announced that it expects to complete its previously announced acquisition of Neo North Star Resources, Inc., owner of the Sarfartoq Nd-Pr Rare Earths Project in southwest Greenland, prior to Sept. 1, 2026.

The Company has received formal approval from the Government of Greenland for the indirect transfer of the Sarfartoq mineral license and has completed its recently announced public offering, providing the capital required to fund the $20 million cash component of the acquisition consideration. With the required Greenland approval secured and acquisition funding in place, Greenland Mines is positioned to proceed promptly to closing of the Sarfartoq acquisition.